Successful Trading

Written by Jacey Harmon

To become a successful futures trader, you must look at what traits other successful traders have. The futures market has a history of creating losing traders. Studies have shown that roughly 80 percent of those who trade futures eventually lose. Still, despite the negative odds of success, there are the elite few who succeed where others fail.

Common Traits of Successful Traders

Successful traders are amazingly resilient. They understand that not every trade is going to be a winner. They don't take it personal when the market goes against them and they are forced to sell at a loss. A successful trader has a remarkable ability to forget the pain of the loss while being able to learn from their mistakes.

Something every successful trader uses is a trading strategy. Trading strategies are your secret weapons when you enter the market. They will help you keep your emotions in check. A strategy will help you make decisions as to when to buy and sell, for profit or loss--as long as you have the discipline to stick with a strategy, that is.

Successful traders are excellent students of the market. They analyze past trades to identify their strengths and weaknesses. They study historical market data to get a clear idea of how the market behaves at pivotal points. They learn from others' mistakes and incorporate those lessons into their trading strategy. Most of all, successful traders are willing to accept risk. If you can't accept risk, trading is not for you.